Latest Developments

Asia-Pacific
The Straits Times

South Korea exports extend robust growth on AI-fuelled chip boom

The continued strength adds to the case for the Bank of Korea to raise interest rates in November. SEOUL – South Korea’s exports maintained strong growth in October, with an artificial intelligence-driven boom continuing to power the trade-reliant economy. Exports adjusted for working-day differences climbed 76.1% from a year earlier, according to the Ministry of Trade, Industry and Resources data released on Nov 1. The value of shipments reached US$115.3 billion (S$147.3 billion), following the previous month’s record US$121.1 billion. On an unadjusted basis, exports rose 93.7% while imports increased 36%, resulting in a trade surplus of US$42.5 billion. In comparison, September had a revised export increase of 83.7%. The continued strength adds to the case for the Bank of Korea (BOK) to raise interest rates in November after policymakers stood pat in October to assess the impact of consecutive increases in July and August. Inflation data due on Nov 3 will provide another key input before the BOK’s decision on Nov 26. Semiconductors continued to be the main driver of the gains, with chip exports surging 259% from a year earlier to US$56.4 billion. Shipments of computers rose 497%, while petroleum products and cars gained 80% and 18%, respectively. Calendar effects may have complicated the comparisons. The Chuseok holidays fell in September 2026 and October 2025, making working day-adjusted figures a useful gauge of underlying trade momentum. The export boom is also putting South Korea on course to exceed US$1 trillion in annual shipments for the first time in 2026, BOK governor Shin Hyun-song said. That would make it the fourth economy to reach the milestone after the United States, China and Germany, according to the Trade Ministry. The figures suggest South Korea’s export engine remained strong at the start of the fourth quarter, even as the benefits of the chip boom have yet to spread evenly across the economy. That divergence complicates the BOK’s task as it weighs strong growth and above-target inflation against weak household demand. The economy expanded 1% in the third quarter from the previous three months, beating economists’ forecasts for a 0.8% gain. Facility investment jumped 4.1%, but private consumption fell 0.2%, underscoring the uneven benefits of the semiconductor boom. The BOK expects growth in 2026 and 2027 to substantially exceed its August projections of 3.3% and 2.9%, respectively. It has pointed to continued strength in semiconductor exports and investment, while expecting improving incomes to gradually support a broader consumption recovery. Shin said monetary policy will remain restrictive until officials are confident inflation will converge on the bank’s 2% target. The BOK will also release updated growth and inflation forecasts with its November rate decision.

South Korea exports extend robust growth on AI-fuelled chip boom
Asia-Pacific
Channel NewsAsia

North Korea says defence research institutes tested major weapon system

The test was intended to “assess adaptation to combat and power of a cluster-bomb warhead to be tipped on tactical ballistic missiles”, state media KCNA said on Saturday (Oct 31). North Korean leader Kim Jong Un, accompanied by his daughter Kim Ju Ae, attends a test of a new type of weapon at an undisclosed location on Sep 20, 2026. KCNA via REUTERS 01 Nov 2026 09:35AM Bookmark Bookmark Share WhatsApp Telegram Facebook Twitter Email LinkedIn Set CNA as your preferred source on Google Add CNA as a trusted source to help Google better understand and surface our content in search results. Read a summary of this article on FAST. Get bite-sized news via a newcards interface. Give it a try. Click here to return to FAST Tap here to return to FAST FAST SEOUL: North Korea’s state media KCNA reported on Saturday (Oct 31) that the country’s defence science research institutes tested a major weapon system. The test was intended to “assess adaptation to combat and power of a cluster-bomb warhead to be tipped on tactical ballistic missiles”, KCNA said. The test found that a standard Type 2 cluster bomb warhead can destroy a target area of 12ha to 13ha at its highest density, KCNA said. The cluster bomb warheads fall into four categories, an official at North Korea’s missile administration said without elaborating. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less North Korea will enable its military units by the end of 2026 to use all types of the bombs, depending on their operational purposes, KCNA said. Pyongyang has ramped up its show of force in recent weeks with multiple missile tests and holding a drone exhibition. Analysts said the tests could be part of efforts to modernise the military. North Korea gained experience in modern warfare, sending troops to the war in Ukraine for its ally Moscow. North Korea test-fired around 10 ballistic missiles from its east coast toward the sea on Oct 29, when German Chancellor Friedrich Merz visited South Korea for a summit. Our chief editor shares analysis and picks of the week's biggest news every Saturday.

North Korea says defence research institutes tested major weapon system
Japan
Nikkei Asia

On India's east coast, tidepooling inspires marine conservation

Marine biologists identify and document sea creatures at low tide in Visakhapatnam, India. A local conservation group has recorded more than 500 species of marine life off the city's coast over the past six years. (All photos by Anita Rao Kashi) VISAKHAPATNAM, India -- On a mildly humid evening in early winter, the beach adjoining Tenneti Park in Visakhapatnam, on India's eastern seaboard, is quiet. The receding tide has exposed a broad stretch of dark rocky outcrops covered with algae and dotted with pools of seawater. A few people linger on the sand and at the water's edge, but the outcrops are deserted. The steady sound of waves fills the background.

On India's east coast, tidepooling inspires marine conservation
Asia-Pacific
The Straits Times

Binance in talks for Malaysia licence after five-year absence

Regulatory approval would provide Binance a route to formally re-enter a market where it has faced restrictions for more than five years. Binance said it is in discussions with Malaysian regulators for a licensed business in the country, as the cryptocurrency exchange seeks a route back into a market where the authorities have blocked its website and applications. “We have been jointly engaging the Securities Commission Malaysia and Bank Negara Malaysia over the last ten months, on a licenced pathway to offering our products and services into Malaysia,” a Binance spokesperson said in a statement to Bloomberg on Oct 31. The world’s largest crypto exchange is in talks on the “viability and structure of licenced business model in Malaysia,” the spokesperson added, declining to give further details on the type of license it was seeking. Regulatory approval would provide Binance a route to formally re-enter a market where it has faced restrictions for more than five years. The Securities Commission ordered Binance in July 2021 to cease operating in Malaysia after the regulator found it was then illegally running a digital asset exchange. The orders included stopping all media and marketing activities, and restricting Malaysian investors from accessing Binance’s Telegram group. While the Securities Commission had removed Binance from its Investor Alert List in 2024, it added the exchange back to the list earlierin October without providing a reason. Binance this week suffered a security breach involving as much as US$6.3 billion (S$8 billion), the largest known crypto hack. It suspended withdrawals and pledged to cover all losses. While the full details of the Binance breach have yet to emerge, the incident comes amid growing concern about the risks posed by hackers in the age of artificial intelligence. Malaysian lawmaker Lim Guan Eng wrote to the Securities Commission in September, asking the regulator to probe if Binance’s peer-to-peer platform was facilitating ringgit transactions through advertisements listed under another currency denomination. His office distributed the letter on Oct 31 “in light of the recent Binance security incident”.

Binance in talks for Malaysia licence after five-year absence
Asia-Pacific
Channel NewsAsia

Malaysia wants to move away from Waze. Will drivers make the switch?

Malaysia has banned the popular Israeli navigation app for civil servants and urged citizens not to use it. Motorists say they lack a viable homegrown alternative. A person uses the Waze navigation app on a mobile phone on Oct 28, 2026. The Malaysian government has reportedly banned civil servants from using the app over its alleged links to Israel. (Photo: CNA/Fadza Ishak) Rashvinjeet S Bedi 01 Nov 2026 06:00AM Bookmark Bookmark Share WhatsApp Telegram Facebook Twitter Email LinkedIn Set CNA as your preferred source on Google Add CNA as a trusted source to help Google better understand and surface our content in search results. Read a summary of this article on FAST. Get bite-sized news via a newcards interface. Give it a try. Click here to return to FAST Tap here to return to FAST FAST KUALA LUMPUR: Last week, Malaysian taxi driver Mohamed Aidil gave TuJu, the country’s homegrown highway navigation app, a try. He had heeded a call by Prime Minister Anwar Ibrahim for citizens not to use the popular community-driven navigation app Waze, citing data security risks and its compliance with Israeli data laws. Less than 24 hours later, however, Aidil, 38, had uninstalled TuJu and reverted to Waze. “Many destinations were missing while some directions seemed (to be) not making sense," Aidil said about TuJu, which was developed by the Malaysian Highway Authority. Aidil is not the only motorist finding it difficult to part ways with Waze, the app used by millions in Malaysia even amid renewed scrutiny over its ties to Israel. E-hailing driver P. Vishovartan relies on ride-hailing app Grab’s built-in navigation map while ferrying passengers, but defaults to Waze for his personal driving, especially when he goes back to his hometown of Penang. "Waze is the most accurate when it comes to estimated travel times and toll costs," said Vishovartan. It is also the best at finding alternative routes in the event of heavy traffic, he said. While Vishovartan strongly condemns Israel’s military actions in Gaza and other places, he admitted it is difficult to stop using Waze at the moment because of its real-time incident and accident updates. Malaysia on Oct 20 banned its civil servants from using Waze, citing concerns over sensitive government information and personal data. The directive covers both their official working hours and personal time. “Sensitive government information and the personal data of citizens must be protected from exploitation by the Israeli regime in ways that could undermine national security and sovereignty,” said a Prime Minister’s Office statement on Oct 21.

Malaysia wants to move away from Waze. Will drivers make the switch?
Asia-Pacific
Channel NewsAsia

India opposition parties hold mock impeachment of poll chief

Cutouts of Congress leaders put up outside Ramlila Maidan ahead of the "Save Democracy" march to be led by the Indian opposition leader Rahul Gandhi, amid calls for Chief Election Commissioner Gyanesh Kumar to resign, in New Delhi on Oct 31, 2026. (Photo: REUTERS/Anushree Fadnavis) NEW DELHI: India's political opposition staged a symbolic impeachment of the election commissioner on Saturday (Oct 31) to protest against a revision of voter lists that they say could unfairly benefit the ruling party. The nationwide revision of electoral rolls has sparked political disputes and street protests in the world's largest democracy over the last month. The Election Commission says the initiative is necessary to ensure accurate voter lists, but the opposition claims it is being manipulated to favour Prime Minister Narendra Modi's Bharatiya Janata Party (BJP). CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less On Saturday, opposition parties gathered at the residence of Congress president Mallikarjun Kharge in the capital New Delhi, re-enacting a parliamentary session. They held mock impeachment proceedings, which have no constitutional or legal force, against Chief Election Commissioner Gyanesh Kumar. "The motion we have brought forward today is aimed at safeguarding the dignity of a constitutional institution," Kharge said. "Our intention is for the Election Commission to function impartially, in line with the spirit of the constitution." Under the constitution, the chief election commissioner can only be removed through a parliamentary process requiring a special majority. Senior Congress leader Rahul Gandhi said the opposition had resorted to the symbolic exercise as they "have nowhere else to go". "We have no other option. Every single institution... is closed for us," Gandhi said. The event came a day before a major opposition rally in Delhi backed by the Cockroach Janta Party, an online youth-led movement that also supports the campaign against the voter-roll revision.

India opposition parties hold mock impeachment of poll chief
Asia-Pacific
The Straits Times

Expensive but worth it: Exhausted by the digital world, I turn to grandma hobbies

The writer has turned to analogue activities such as letter writing, scrapbooking, and film and polaroid photography. Sign up for ST InvestMe to find out how you can plan for your dream life in the next financial literacy course on Nov 19. SINGAPORE – I once spent $70 just printing out photos that I then spent hours meticulously arranging on sheets of A4 paper. Yes, they already existed digitally in my phone and on Instagram, but I wanted to scrapbook them and have some tangible memories of my year abroad.

Expensive but worth it: Exhausted by the digital world, I turn to grandma hobbies
Asia-Pacific
The Straits Times

British telecoms firm Virgin Media O2 to cut thousands of jobs, Sky News reports

British telecommunications operator Virgin Media O2, which is jointly owned by Liberty Global and Spain’s Telefonica, will cut thousands of jobs in a sweeping shake-up, Sky News reported on Oct 31, citing people close to the company. Up to 4,000 of Virgin Media O2’s 16,000 employees could be affected, although the precise number of job cuts has yet to be finalised, the report said. Most of the job cuts are expected to affect non-customer-facing roles, while a number of senior leadership changes are already under way, the report said. The company is also expected to review its usage of contractors and suppliers in an effort to reduce costs, the report said. The Financial Times reported in July that the company’s owners were weighing options to reduce the company’s £22 billion (S$37.7 billion) debt pile. In September, the Financial Times reported Virgin Media O2’s shareholders were seeking to reduce costs by about £600 million. REUTERS

British telecoms firm Virgin Media O2 to cut thousands of jobs, Sky News reports
Asia
The Hindu BusinessLine

Trump loses lawsuit against Wall Street Journal over Epstein birthday letter story

A federal judge has thrown out President Donald Trump’s multibillion-dollar lawsuit against The Wall Street Journal and media mogul Rupert Murdoch over a story reporting on his ties to wealthy financier Jeffrey Epstein. US District Judge Darrin Gayles in Miami dismissed the suit with prejudice on Saturday, ruling that the president did not prove the defendants made defamatory statements with actual malice. The ruling said the lawsuit was “grasping at straws” as it attempted to “manufacture” flaws in the Journal’s investigative reporting. When a case is thrown out “with prejudice,” it cannot be refiled again and the dismissal is permanent and incontrovertible. The lawsuit was over a story the Journal published last year describing a sexually suggestive letter that the paper said bore Trump’s name and was included in a 2003 album compiled for Epstein’s 50th birthday. The letter was reportedly collected by disgraced British socialite Ghislaine Maxwell as part of a birthday album for Epstein years before he was first arrested in 2006 and subsequently had a falling-out with Trump. The letter bearing Trump’s name includes text framed by the outline of what appears to be a hand-drawn naked woman and ends with, “Happy Birthday -- and may every day be another wonderful secret,” according to the newspaper. Trump denied writing it and called the story “false, malicious, and defamatory.” The lawsuit, filed in federal court in Miami, accused the paper and its reporters of having “knowingly and recklessly” published “numerous false, defamatory, and disparaging statements,” which, it alleged, caused “overwhelming financial and reputational harm” to the president. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Trump loses lawsuit against Wall Street Journal over Epstein birthday letter story